And over the last two decades, the center of gravity in capital markets has shifted dramatically toward private ownership. BlackRock CEO Larry Fink pointed out in his 2025 annual letter to investors that 81% of U.S. companies with revenue over $100 million are now privately held. The number of publicly traded companies has fallen roughly 50% since the 1990s. We usually blame regulation or quarterly earnings pressure. Those matter. But I think they’re secondary. The deeper issue is that public markets don’t have the machinery to value complex technology companies properly.
Фото: Roman Naumov / Global Look Press。业内人士推荐必应排名_Bing SEO_先做后付作为进阶阅读
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第三十一条 增值税法第二十四条第一款第九项所称门票收入，是指第一道门票收入。
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